Quiz about Personal Financial Literacy

Question 1

To put money away to use later is called_______.

Accepted Answer

Saving

Answer

Spending

Answer

Withdrawal

Answer

Borrowing

Question 2

When you make a _________, you are putting money INTO a bank account.

Accepted Answer

Deposit

Answer

Withdrawal

Answer

Borrow

Answer

Spend

Question 3

Sarah left her crayons at home so she had to ask John if she could use his for a short amount of time. This is an example of ___________.

Accepted Answer

borrowing

Answer

lending

Answer

saving

Answer

spending

Question 4

Eric has a lemonade stand. He sells small cups for $1.00 and large cups for $2.00. Joe purchased a large cup of lemonade. Who is the consumer?

Accepted Answer

Joe

Answer

the lemonade

Answer

the cups

Answer

Eric

Question 5

Garrett makes masks with his sewing machine. He sold 5 masks to Pete for $20. Who is the consumer?

Accepted Answer

Pete

Answer

Garrett

Answer

the masks

Answer

the sewing machine

Question 6

Ali uses $50 from his piggy bank to pay for a new bike. This is an example of_______.

Accepted Answer

Spending

Answer

Saving

Answer

Lending

Answer

Borrowing

Question 7

Alyssa wants to take her dog to the groomer but it will cost her $75. She goes to the bank to ___________ $75.

Accepted Answer

withdrawal

Answer

save

Answer

deposit

Answer

producer

Question 8

Avery sees that Tom doesn't have a pencil to write with. She decided to _______ Tom one of her pencils.

Accepted Answer

lend

Answer

borrow

Answer

deposit

Answer

consumer

Question 9

Angela borrows 5 quarters from Tom and then returns 4 of the quarters to him. Is this an example of responsible or irresponsible borrowing?

Accepted Answer

Irresponsible

Answer

Responsible

Question 10

Tony borrowed 5 dollars from his dad to pay for a new pencil box. He paid his dad back a dollar every week for 5 weeks until he paid all the money back.

Accepted Answer

Responsible borrowing

Answer

Irresponsible borrowing

Personal Financial Literacy

Create a free account and access millions of resources

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Mathematics